Chef Z Inc. is a qualified chef and educator who does catering for private functions as well as teach at the culinary school. You are the accountant for Chef Z Inc. and must record and complete several transactions to bring the accounting records up to date. You may OMIT explanations for all journal entries required in this paper. Question 1: Financial Statements and Closing Entries Chef Z Inc. Adjusted Trial Balance December 31 Credit Debit $1,180 875 350 1,210 1,200 S 40 75 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable Interest Payable Share Capital - Ordinary Dividends Service Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Interest Expense 56 300 2,000 15 800 500 4,515 1,006 125 165 1,025 40 110 15 $7.801 $7.801 Prepare an income statement and a retained earnings statement for the 2 months ended December 31, and a classified statement of financial position at December 31. 1 (a)